Construction in Finland - Key Trends and Opportunities to 2024

Finland's construction industry grew by 0.6% in 2019, with the industry's output value increasing from US$42 billion in 2018 to US$42.3 billion in 2019. Growth during the review period (2015-2019) was driven by positive developments in regional economic conditions and the government's investment in energy, residential and institutional construction projects. However, with the emergence of the pandemic and the stringent measures taken by the government to contain the spread of the COVID-19 (COVID-19), the construction industry is now set to contract by 1.7% in 2020.

Although the industry is expected to remain weak in 2020, the industry's output will be supported by the government's focus on the development of the country's transport and energy infrastructure. According to Statistics Finland, the construction industry's value-add declined by 0.1% in the first six months of 2020 (the latest data available at the time of writing), compared to same period in 2019.

Reflecting the disruptions caused by the pandemic, coupled with the weak outlook for economic growth, GlobalData forecasts the construction industry to contract by 1.7% and 0.4% in 2020 and 2021, respectively, but is thereafter forecast to grow at an annual average rate of 1.8% during the period of 2022-2024. This growth will be supported by the government's focus on developing the country's transport infrastructure. The government also aims to phase out coal-based power plants in the country by 2029, and to become a carbon neutral country by the year 2035, which will also drive industry growth.

This report provides detailed market analysis, information, and insights into the Finnish construction industry, including -

• The Finnish construction industry's growth prospects by market, project type and construction activity
• Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Finnish construction industry
• Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Scope

This report provides a comprehensive analysis of the construction industry in Finland. It provides -

• Historical (2015-2019) and forecast (2020-2024) valuations of the construction industry in Finland, featuring details of key growth drivers.
• Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
• Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
• Listings of major projects, in addition to details of leading contractors and consultants

Reasons to Buy

• Identify and evaluate market opportunities using GlobalData's standardized valuation and forecasting methodologies.
• Assess market growth potential at a micro-level with over 600 time-series data forecasts.
• Understand the latest industry and market trends.
• Formulate and validate strategy using GlobalData's critical and actionable insight.
• Assess business risks, including cost, regulatory and competitive pressures.
• Evaluate competitive risk and success factors.

Table of Contents

Table of Contents

1 Executive Summary

2 Construction Industry: At-a-glance

3 Context

• 3.1 Economic Performance
• 3.2 Political Environment and Policy
• 3.3 Demographics
• 3.4 COVID-19 Status

4 Construction Outlook

• 4.1 All Construction
• 4.2 Commercial Construction
• 4.3 Industrial Construction
• 4.4 Infrastructure Construction
• 4.5 Energy and Utilities Construction
• 4.6 Institutional Construction
• 4.7 Residential Construction

5 Key Industry Participants

• 5.1 Contractors
• 5.2 Consultants

6 Construction Market Data

7 Appendix

• 7.1 What is this Report About?
• 7.2 Definitions
• 7.3 GlobalData Construction

List of Tables

List of Tables

• Table 1: Construction Industry Key Data
• Table 2: Finland, Key Economic Indicators
• Table 3: Finland, Commercial Construction Output by Project Type (Real % Change), 2015-2024
• Table 4: Finland, Top Commercial Construction Projects by Value
• Table 5: Finland, Industrial Construction Output by Project Type (Real % Change), 2015-2024
• Table 6: Finland, Top Industrial Construction Projects by Value
• Table 7: Finland, Infrastructure Construction Output by Project Type (Real % Change), 2015-2024
• Table 8: Finland, Top Infrastructure Construction Projects by Value
• Table 9: Finland, Energy and Utilities Construction Output by Project Type (Real % Change), 2015-2024
• Table 10: Finland, Top Energy and Utilities Construction Projects by Value
• Table 11: Finland, Institutional Construction Output by Project Type (Real % Change), 2015-2024
• Table 12: Finland, Top Institutional Construction Projects by Value
• Table 13: Finland, Residential Construction Output by Project Type (Real % Change), 2015-2024
• Table 14: Finland, Top Residential Construction Projects by Value
• Table 15: Finland, Key Contractors
• Table 16: Finland, Key Consultants
• Table 17: Finland, Construction Output Value (Real, US$ Million)
• Table 18: Finland, Construction Output Value (Nominal, EUR Million)
• Table 19: GlobalData Construction Market Definitions

List of Figures

List of Figures

• Figure 1: Western Europe, Construction Output (Real % Change), 2020
• Figure 2: Finland, Construction Projects Pipeline by Sector (US$ Billion)
• Figure 3: Finland, COVID-19 Confirmed Cases
• Figure 4: Finland, Construction Output Value (Real, US$ Billion, 2017 Prices and Exchange Rate), 2015-2024
• Figure 5: Finland, Construction Output Value, by Sector (Real, US$ Million), 2015-2024
• Figure 6: Finland, Construction Value-Add (EUR Million, 2010 Constant Prices)
• Figure 7: Finland, Construction Projects Momentum Index
• Figure 8: Finland, Commercial Construction Output by Project Type (Real, US$ Million), 2015-2024
• Figure 9: Finland, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
• Figure 10: Finland, Total Tourist Arrivals (in Numbers)
• Figure 11: Finland, Wholesale and Retail Trade Index (2015=100)
• Figure 12: Finland, Industrial Construction Output by Project Type (Real, US$ Million), 2015-2024
• Figure 13: Finland, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)
• Figure 14: Finland, Manufacturing Turnover Index (2015=100)
• Figure 15: Finland, Industrial Output Index (2015=100)
• Figure 16: Finland, Infrastructure Construction Output by Project Type (Real, US$ Million), 2015-2024
• Figure 17: Finland, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
• Figure 18: Finland, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2015-2024
• Figure 19: Finland, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
• Figure 20: Finland, Institutional Construction Output by Project Type (Real, US$ Million), 2015-2024
• Figure 21: Finland, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
• Figure 22: Finland, Residential Construction Output by Project Type (Real, US$ Million), 2015-2024
• Figure 23: Finland, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
• Figure 24: Finland, Residential Building Permits (in Number)
• Figure 25: Finland, Residential Building Permits (in Number)
• Figure 26: Finland, Headquarters of Key Contractors (% of Total Project Pipeline)
• Figure 27: Finland, Headquarters of Key Consultants (% of Total Project Pipeline)